Suncorp Group (ASX:SUN) launched an offer for Australian dollar-denominated perpetual, convertible notes to fund additional Tier 1 capital within the group, according to a Wednesday filing with the Australian bourse.
The unsecured, subordinated notes will be offered to institutional and wholesale investors at a face value of AU$10,000 per note, with a potential minimum subscription amount of AU$500,000, per the filing.
The notes are expected to be priced on Wednesday.
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